5 Best Penny Stocks To Buy According To Hedge Funds

4. Tellurian Inc. (NASDAQ:TELL)

Number of Hedge Fund Holders: 17    

Tellurian Inc. (NASDAQ:TELL) is one of the few non-growth penny stocks in the hedge fund portfolio. The company beat market expectations on revenue in the second quarter by more than 10 million. During the period, the year-on-year quarterly revenue jumped 300%. The firm is ranked fourth on our list of 11 best penny stocks to buy according to hedge funds. There are several growth catalysts for the stock in the long term, including two recent LNG agreements with Shell and Total Energies.

Tellurian Inc. (NASDAQ:TELL) stock has returned more than 295% to investors in the past twelve months. B Riley analyst Liam Burke has a Buy rating on the stock with a price target of $8. Burke expects the firm to benefit from the growth of the LNG market in the coming months.

At the end of the second quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $103 million in Tellurian Inc. (NASDAQ:TELL), up from 12 in the previous quarter worth $28 million.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Tellurian Inc. (NASDAQ:TELL) with 7.2 million shares worth more than $33 million.